Track the $1000 Per Hour Activities that Will Power Your Dreams

Track the $1000 Per Hour Activities that Will Power Your Dreams

We’ve all had the experience of developing a killer business plan or marketing strategy and basking in the glow of anticipation.

Then, inexplicably, the best-laid plans go off the rails. How do you get back on track and achieve the results you know are possible?

The most successful advisors know how to avoid the factors that will keep them on a siding instead of on track. An important element in this effort is carefully monitoring high-priority activities. There’s a process you can use to make tracking activity a habit. When you monitor your efforts, you can identify what is working, see what needs to change, and identify the behaviors and skills you have to improve.

The first step is to determine high priority, or $1000 per hour, activities. These are the core activities that drive your success. If you can’t consistently carry out these activities, it will not be possible to achieve your goals.  But before you can track these activities, you need to determine what they are.

Typically, managing relationships with affluent clients and marketing to get prospects into your pipeline are $1000 per hour activities.  Every day is different, and you need to plan on a daily basis. By doing so, you ensure that you will be executing on your $1000 per hour activities consistently. Bear in mind, though, that $1000 activities can change from day to day. Maybe you shoot for two personal introductions with a prospect per week, but you only have one. If you still managed to execute on other $1000 activities, it’s still a good week.

For example, let’s say that you successfully identify introduction targets. This will affect another $1000 activity – getting personal introductions. Relationship-management and relationship-marketing activities are interrelated, and one leads to the other.

No matter how carefully you plan, things don’t always work out as intended. Events beyond your control can wreak havoc with scheduled activities. To help track daily and keep score weekly, assign point values to each activity. Then you can establish a point goal for the coming week. If you don’t reach your goal, identify what activities weren’t executed and why they weren’t.  Daily tracking combined with a weekly point total helps manage daily unpredictability.  As long as you reach your point total, one bad day hasn’t ruined your week.

After you’ve been tracking your activity for a month, you can look back and see what is working and what isn’t.  Ask yourself how many prospects you met, who you added to your pipeline, how many clients you met with, and what prospects you have moved closer to client status. Are there any $1000 activities that you’re avoiding? Why?

When you answer these questions, you re-examine the $1000 activities you have tracked. You might choose, based on results, to substitute one activity for another. Maybe socializing with clients is more effective than you thought, and you want to increase that activity. Applying these steps will put you on the track to achieve your most ambitious goals.

For more information, please read:
Are You Tracking the $1,000/Hour Activities that Drive Your Dream? | Wealth Management

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